IST 195 Lecture Notes - Lecture 18: Human Resource Management, Distributed Ledger, Transaction Processing
17 Jan 2018
School
Department
Course
Professor
Document Summary
A set of activities that a firm operating in a specific industry performs in order to deliver a valuable product or service for the market. Michael porter came up with it in 1985. Primary activities = directly related to producing the firm"s goods and service. Inbound logistics, operations, outbound logistics, marketing and sales, service. Support activities = ensure the firm can perform its primary activities efficiently and effectively. Procurement, technology development, human resource management, firm infrastructure. Efficiency helps a company"s margins without having to increase revenue. Improve efficiency by following the values of the value chain. Creating products and services from raw information. Delivering the products or services to customers. Administering the relationships between business and external organizations. Using technology to support the other activities. Acquiring raw materials needed by the business. Generic name for the database and transaction processing capabilities that power digital transactions.
